Kroger Co., the nations third largest supermarket chain, earned $1.37 a share in its second quarter ended June 17, up from $1.14 a year earlier, while sales rose to $1.75 billion from $1.526 billion and net income climbed to $18.72 million from $15.44 million.
First-half profits rose to $31.3 million ($2.30 a share) on sales of $3.426 billion from $25.97 million ($1.92) the previous year on sales of $2.996 billion.
President Lyle Everingham said the strong second-quarter sales were particularly gratifying because they were achieved with Easter sales, which normally fall in the second quarter. He said Kroger was operating 1,200 stores at the end of the half, up from 1,172 a year earlier.
Largely due to the box office success of the film "The Goodbye Girl," Metro-Goldwyn-Mayer Inc. reported a record $13 million third-quarter earnings.
The company's filmed entertainment division contributed $12.1 million in operating income compared with $4.3 million last year, MGM said Wednesday.
The new MGM Grand Hotel-Reno, which opened May 3, added the first four weeks of its winnings to those of the MGM Grand in Las Vegas to provide $13.9 million in operating income compared with $10.5 million a year earlier.
Net profit for the period ended May 21 was $13.074 million (90 cents a share), a 76 percent increase over the $7.449 million (50 cents) in the third quarter last year.